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Additional Information for 2024:
Net income is $65,000.
The company purchases $106,000 in equipment. No equipment was sold.
Depreciation expense is $158,000.
The company repays $112,500 in notes payable.
The company declares and pays a cash dividend of $23,000.
Required:
Prepare the statement of cash flows using the indirect method. (Amounts to be deducted, cash outflows, and any decrease in cash should be indicated with a minus sign.)
PLASMA SCREENS CORPORATION
Statement of Cash Flows
For the Year Ended December 31, 2024
Cash Flows from Operating Activities Net income $65,000 Adjustments to reconcile net income to net cash flows from operating activities Depreciation expense Decrease in accounts receivable Increase in inventory Increase in prepaid rent Decrease in accounts payable Decrease in interest payable Increase in income tax payable Net cash flows from operating activities $65,000
Cash Flows from Investing Activities Payment of notes payable Net cash flows from investing activities 0
Cash Flows from Financing Activities Purchase of equipment Net cash flows from financing activities 0
Cash at the beginning of the period Cash at the end of the period $0

Sagot :

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